AbstractPrior research on climate change impacts on flooding has primarily focused on changes in extreme rainfall magnitudes, often neglecting snow processes and spatiotemporal storm patterns, such as hyetograph shapes and areal reduction factors (ARFs). This study examines projected changes in extreme water available for runoff (W) events in two snow‐dominated basins in the western United States: the Yakima River Basin (YRB) in Washington State and the Walker River Basin (WRB) spanning the California‐Nevada border. We analyze changes in W magnitudes, mechanisms, hyetograph shapes, and ARFs, and study their compounded impacts on flood hazard. Our findings suggest increased extreme W magnitudes across a large portion of the basins, with steeper or flatter hyetographs, and higher ARF values under the future climate. These changes are driven by a shift from seasonal snowmelt to more rain‐on‐snow events at higher elevations and by increased rainfall at lower elevations. We then use a single event‐based rainfall‐runoff model to estimate flood hazard changes based on extreme W magnitudes, hyetograph shapes, ARFs, and their compounded impacts. Our analysis reveals that focusing solely on the magnitude of changes in extreme W can significantly underestimate future flood hazards and uncertainties. Ignoring future changes in spatiotemporal patterns can underestimate future flood hazards by 63% and underestimate the uncertainty in future flood events by 18% in the WRB. These results underscore the necessity of incorporating spatiotemporal dynamics into future flood hazard assessments to provide a more accurate evaluation of potential impacts.